Summer Money Ideas

It has finally warmed up here in the northeast, and all of a sudden it seems like summer might actually happen! With this year’s cold, snowy winter, it did not feel like we would ever be warm again!

Along with warmer weather comes planning for summer break from school. So many recent studies are showing that people of all ages are lacking financial literacy, but with busy schedules, it can be tough to fit financial education into most kids’ — and families’ — lives. Summer provides a great opportunity to help kids learn about money and financial management.

Since summer means no school, no homework, and potentially very little structure, helping a child of any age plan projects for engagement and learning is a great thing. A few ideas to help your child learn about money this summer:

Get a job: The act of finding a job and keeping a job no matter how small, is a great way to instill responsibility and independence in kids. Paid work also provides actual experience with money.

Play the market: Kids can choose publicly traded companies to follow (Apple is frequently a favorite with the teen set!), and track the stock price and company news throughout the summer.

Live your dream: Entrepreneurship is a fantastic way to engage kids and promotes creativity, opportunity recognition, and money management. The summer is a great time to begin brainstorming and working on a venture that a young person might want to attempt to create over the next few years, or a lifetime.

In recent talks with parents, many have asked me about summer financial and entrepreneurship education programs for kids. If you are located in New York City, Financial Nutrition offers the following local programs for the summer:

The Summer Entrepreneurship Program for Girls

The Summer Entrepreneurship Program for Girls teaches your daughter to be financially literate and independent in a fun, engaging setting. This program introduces girls ages 8-14 to concepts around money management and financial understanding, goal-setting, and idea development within the context of launching a new venture. Summer classes include 4-6 girls, and meet from 10:00 am to 4:00 pm for one week, and are hosted in the home.

Entrepreneurs and Leaders

Financial Nutrition provides individual coaching designed to bring your daughter aged 14-18 to her true potential as a creative thinker and leader. Whether her interest lies in addressing a social problem or creating a for-profit venture, this program provides an opportunity to learn while doing, and create something amazing while developing entrepreneurial thinking and financial understanding. While the projects and ventures created can be the start of a successful and meaningful career, they also make a strong addition to a high school or college application portfolio.

More information on these programs is available at http://financialnutrition.com/programs/private-programs/.

We are also piloting a series of online programs, which I would be happy to discuss with you if you will not be in New York this summer.

If you would like to have a conversation about how any of these programs might benefit your child and fit with your summer plans, I would love to talk to you! Please get in touch via my email at melissa@financialnutrition.com.